Milan, 22 January 2010 – Seat Pagine Gialle S.p.A. has announced today that it successfully completed the pricing of €550 million senior secured notes due 2017 to partially refinance its senior secured credit facilities and extend the maturity profile of its debt.

The notes will pay a fixed annual coupon of 10.5% and be issued at a price of c. 97.6%. Closing and funding are expected to take place on 28 January 2010, subject to customary closing conditions.

Pursuant to the amendment agreement announced last week with Royal Bank of Scotland, the lender of the existing senior secured credit facilities, the transaction will allow the company to reset its financial covenants.

On Monday, 18 January 2010, the company announced its intention to issue €650 million senior secured notes including a floating rate tranche which was then eliminated due to weak market conditions, while the fixed tranche has been upsized and oversubscribed.

   
The senior secured notes have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements of that act.